1. The sort of mortgage system you select. Some other mortgage software enjoys more LTV criteria and you may constraints. 5% LTV. Virtual assistant financing and you can USDA money lack a certain LTV limit, nonetheless keeps most other qualification criteria that you should meet.
The fresh new enticing give is actually off Nationwide, and that states it can provide new customers mortgage loans worthy of around six times its annual earnings which have a beneficial 5% deposit. This is exactly a whole lot more good than normal, given that usually people can also be use around 4 times its income to the a mortgage.
If you are looking to get a mortgage to possess a primary household otherwise a different sort of set, we identify how lenders assess home loan has the benefit of and what you are able do to increase your probability of obtaining correct home loan.